Available from: http://www.growlersoftware.com/
Presently I use Fraps, and have used Game Cam (which has a little less performance hit) and were wondering whether the above program has merit.
I just tried a 1 min recording of some IL2 action (haven't tried FS yet). I didn't spend too much time messing with settings, just fired up a track of one of the dog fights in the game.
I selected to record at 1024 x 768 and allowed it to record sound. I set the track going and changed views as if I was the one flying, using enemy lock etc.
I must say I was impressed. There were no stutters, even when moving the hat switch around - that usually lags a bit if I am too quick when using Fraps.
The raw file was 80mbs in AVI format. I discovered that it also recorded sound from my microphone ... so if you listen carefully you can hear Radio Hauraki and me pressing buttons on the joystick lol. Also the game sounds heard through my speakers then recorded again through the mic sound a bit echo'y, in fact I think it makes the game sounds better, I may use that technique in future. I will probably disconnect my mic though next time. As a bonus though you could record Teamspeak or ATC using this method.
I used ULead to add the titles (Sony Vegas doesn't like Xvid AVI's) and converted it to MPG (54mb) then I converted it further to WMV at 640 x 480 (12 mb) for YouTube. Apart from Titles and crossfades there is no other editing - unfortunately YouTube washes out the final product a bit - it's quite clear in wmv format.
The test is here:
http://youtube.com/watch?v=Oa1ciBqjRuE
Soon I'll do more with it and take a look at the options you have to play with. In the meantime it could be worth a look.